Cost of Thanksgiving climbs to $50!

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The cost of Thanksgiving dinner is rising. The American Farm Bureau Federation says a Thanksgiving meal for 10 people will increase $5.73 to $49.20. That is a 13 percent rise over last year.

The American Farm Bureau Federation says the the increase is the largest in 26 years of price tracking. Much of the increase comes from the cost of the turkey. A 16-pound turkey costs $21.57, up 22 percent from last year. This is due higher turkey demand and feed costs.

Other items included in the survey are bread stuffing, sweet potatoes, rolls with butter, peas, cranberries, a relish tray of carrots and celery, pumpkin pie with whipped cream, and beverages of coffee and milk.

The first Thanksgiving was essentially free. When the pilgrims didn't bring enough food to America, the Native Americans saved their butts. In 1863, Abe Lincoln declared war on turkeys and Thanksgiving became an official holiday.

As the cost of turkey climbs, will substitution effect kick in and alter the composition of the traditional Thanksgiving meal? Maybe President Obama should reconsider the traditional White House turkey pardon. Waste not want not!

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